Gold price: ETF holdings jump to near 5-year high

On Tuesday, gold climbed back towards the $1,340 an ounce level bringing gains since mid-December to nearly $100 an ounce or 8%.

Large-scale speculators have been increasing their exposure to gold on derivatives markets doubling net long positions – bets that gold will be more expensive in future – in the space of three weeks to the equivalent of 20m ounces.